Swiss National Bank Trims Stake in AppLovin Corporation $APP

Swiss National Bank lowered its position in AppLovin Corporation (NASDAQ:APP) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 665,290 shares of the company’s stock after selling 36,900 shares during the period. Swiss National Bank owned 0.20% of AppLovin worth $478,037,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APP. LFA Lugano Financial Advisors SA bought a new position in AppLovin in the second quarter worth $26,000. Chilton Capital Management LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at $29,000. Activest Wealth Management boosted its holdings in shares of AppLovin by 760.0% during the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock valued at $31,000 after buying an additional 38 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of AppLovin in the 2nd quarter worth about $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in shares of AppLovin in the 3rd quarter worth about $33,000. 41.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APP. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Citigroup decreased their target price on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Benchmark reissued a “buy” rating on shares of AppLovin in a research report on Friday. Scotiabank upped their price target on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Finally, Wedbush lifted their price objective on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Twenty-one analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $654.50.

AppLovin Stock Performance

Shares of APP opened at $502.14 on Monday. The business’s fifty day simple moving average is $514.19 and its two-hundred day simple moving average is $573.97. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin Corporation has a 12 month low of $200.50 and a 12 month high of $745.61. The company has a market cap of $169.36 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 1.03 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue was up 66.0% on a year-over-year basis. Research analysts anticipate that AppLovin Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.66% of the stock is owned by corporate insiders.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.